US auto giant General Motors said Monday it expected its annual car sales in China to hit more than three million vehicles in 2015 as the country's car market continues to outpace that in the US. Kevin Wale, GM China Group president and managing director, told a briefing that the carmaker's sales in China would exceed two million units this year, hitting its target four years ahead of schedule, Dow Jones Newswires reported.
GM sold a record 1.83 million units in China last year. Wale said underlying demand was so strong in China that sales would remain robust even if the government scaled back incentives for the industry put in place during the financial crisis to boost consumption. China's auto sales overtook those of the United States for the first time last year, making the Asian country the world's biggest auto market. Sales have been driven by government incentives such as lower taxes on cars with engines smaller than 1.6 litres and subsidies for clean-technology vehicles. Most of those measures have been extended into 2010.
Comments
Comments are closed.